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20120926
20121004
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with hundreds of billions of dollars and most of the discretionary spending cuts would drive the economy back into recession and cost too many jobs of the other hand would also go a long way to produce budget deficits. even by washington standards that seems pretty important. to discuss the cliff and its consequences of a panel of the four but it did it cover in budget watchers. bob greenstein is on the senate priorities and that of president obama's transition team policy work. douglas holtz-eakin is president of the american action forum and headed the domestic policy staff in the campaign ad was the director of the congressional budget office. donald marron is the director of the tax policy center and member of george bush's advisor and acting director of cbo and finally, digamma rogers blogs as an economist and was the chief economist of the house budget committee for the democratic staff of the house ways and means committee. the format today will be relatively straightforward. each of the panelists will speak for five minutes. i will ask some questions and we will get a discussion going
of europe are. the economy is teetering on the edge of recession. the were seen can do is jacked up taxes on small businesses and entrepreneurs or job creators. that makes it all the more likely to push us into a recession. and for the 23 million people who struggling for work, the worst thing to do is hurt the small businesses that create those jobs. >> it is fair to say that the president has reduced taxes. he has reduced taxes for small businesses 18 times. he cut taxes for '95 -- for 95% of families out there. the question is do we ask everybody to sacrifice? when you look at the marginal rate in the united states, when ronald reagan took office, the marginal office with 71% to 72%. it is interesting to me that the greatness that people speak of in terms of the united states, when we talk about the 1940's, the 1950's, the 1960's, 1970's, the marginal rate that folks paid was much greater. nobody says we will go back to that. at the same time, during the clinton years, we had marginal rates that were a little bit higher than they are now and we had some of the best economic times that
in the american economy. if we did get a decision on the grand bargain that the ten year time frame of how we would manage the cuts and spending and tax increases and investments, because we need to do all three. we need the tax, we need to cut and invest in the sources of our strength. i think that would just have a huge -- americans feel like children are permanently divorcing parents, and i think it is like a poll on the country in a lot of ways. so second, if we had a grand bargain on energy, how to exploit the bounty of natural gas in particular in the environmentally safe and sustainable way on the national basis i think those two things together would have a huge impact. so the question is how close are we to that? and i was saying about the middle east but it may apply to american politics is all important politics happens the morning after the morning after. so, i think -- hearing talking about the election. i don't know how the election is going to come up and make no predictions but i do ask myself if romney gets smashed i don't think the political problem is we have a center left
taxes. is their anybody that thinks that raising taxes will help the economy? no, his plan is to continue what he's done before. the status quo has not worked. we cannot afford four more years of barack obama and we are not going to have four more years of barack obama the first thing in the article here is getting medicare costs under control is the number-one priority and the most untouchable thing, but that is critical cause more trouble than any of the problem we've got fiscally in the united states. getting medicare costs under control is the number-one thing. >> you say we also surcharged smokers and the obese for their medicare coverage. where did that idea come from? >> i am the person that put it in the memo but i didn't have to fight very hard for it. also, i ran into this, something i ran in "the washington post" install of calling people morbidly obese i called them mega fatties and i was refuted by "the washington post" for being insensitive, which i guess i probably am. this is another thing where everybody knows this to be true and someone has to pay for it.
to fix washington so that it is a place that is about results. we've got to grow the economy. we talked about some strategies today. i've got a plan that encourage you to check out on the website. it's basically about infrastructure investment. the kind of small business to level the playing field we did. we've got to find common ground and fix the budget. congress is stopping progress right there. there's too much division in congress and that's why s&p and moody's is basically saying we've got to put some people in there who are willing to compromise. the challenge that is on the table before us right now is this issue of sequester. i've laid out a pretty simple straightforward plan, but the bush tax cuts expire as planned over 500,000, fix medicare, take away unnecessary subsidies. then you get a $100 billion annual cut down to a $23 billion in savings that i know we can find. it's time for specifics. it's time for action but it's time for working together. allen: thank you for this opportunity have this debate here today. tim, you can't talking about that plan. we still that mohamme
Search Results 0 to 4 of about 5